Leisure Capital Management Makes New $203,000 Investment in General Electric (NYSE:GE)

Leisure Capital Management purchased a new position in shares of General Electric (NYSE:GE) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,074 shares of the conglomerate’s stock, valued at approximately $203,000.

Several other large investors also recently added to or reduced their stakes in GE. Studio Investment Management LLC grew its position in General Electric by 97.5% during the second quarter. Studio Investment Management LLC now owns 158 shares of the conglomerate’s stock worth $25,000 after buying an additional 78 shares in the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of General Electric during the second quarter worth about $31,000. Kapitalo Investimentos Ltda bought a new position in shares of General Electric in the fourth quarter worth approximately $32,000. Financial Connections Group Inc. purchased a new stake in General Electric in the second quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. bought a new stake in General Electric during the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.

General Electric Stock Performance

NYSE GE traded down $0.03 on Wednesday, reaching $190.54. 822,142 shares of the stock were exchanged, compared to its average volume of 6,358,431. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. General Electric has a one year low of $84.42 and a one year high of $194.33. The firm has a market capitalization of $208.57 billion, a PE ratio of 62.58, a PEG ratio of 1.86 and a beta of 1.18. The company’s 50-day simple moving average is $176.86 and its two-hundred day simple moving average is $166.73.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 earnings per share. Analysts expect that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.12 annualized dividend and a yield of 0.59%. General Electric’s payout ratio is currently 36.72%.

Analysts Set New Price Targets

Several brokerages recently issued reports on GE. Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Sanford C. Bernstein raised their target price on shares of General Electric from $201.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday. Royal Bank of Canada boosted their price target on shares of General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Jefferies Financial Group raised their price objective on shares of General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, UBS Group upped their target price on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $196.86.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.